Poker sites seized by FBI - Page 17

On April 15 2011 21:31 whamm! wrote: hard to believe ps did not see this coming and not have some plan b in place. im usually very paranoid about these things but for some reason im not too worried about this if i hear a press release from stars reps - they haven't yet and that worries me a lot now above everything else

with only 500 bucks online... who would be? lol

imagine if it was all your BR online.

meh..........
won one of my last 2 mtts up tonight, atleast go out w/ a lil bang

looking at my car parked outside now and it's beginning to look like a pile of cash lol

On April 15 2011 22:03 DvoBoardRider wrote: Show nested quote + On April 15 2011 21:31 whamm! wrote: hard to believe ps did not see this coming and not have some plan b in place. im usually very paranoid about these things but for some reason im not too worried about this if i hear a press release from stars reps - they haven't yet and that worries me a lot now above everything else with only 500 bucks online... who would be? lol imagine if it was all your BR online.

well technically my withdrawal now has not cleared and im not confident at all it will clear since the last time it was rejected. so yeah, technically i have zero to my name and that was everything i had lol

People chill the fuck out, the bussiness potential for Pokerstars outside the USA is very big, its way more than the total sum of our accounts.

So in the worst case where PS needs to pay billions, they would probably get investors to continue operating outisde the united stats, and that only can be done if they respect our bankrolls (and probably american ones too), so chill out, a company this big doesnt just dissapear especially when it has so much potential, if it has serios issues they are just bought

On April 15 2011 21:09 blackjacki2 wrote: bank runs are less effective when you can't actually cashout

then it's much easier for the FBI/US govt. to freeze all the money in your accounts. think about it. it's not stopping today. this will go on for months/years until they get what they want.

IMPORTANT NOTICE!! open pokerstars

that's why I like stars nothing from full tilt yet

stars just had some popup assuring players outside the U.S. and saying their support emails have been moved to another domain name.

Hmm what does that mean for US based players though

new pop-up on Pokerstars client, assuring that bussiness for people ouside USA is fine, they changed site to www.pokerstars.eu, that all our bankrolls are safe.

everyone should read tenbaggers post and think about it before posting.

i don't really see how all the bankrolls are not vanished. it's a little delusional imo to think that PS has 10bil sitting in dubai/singapore/wherever or that the US govt is gonna ship everyone their bankrolls back.

is there any precedence in the latter happening?

On April 15 2011 22:11 Mortensen8 wrote: that's why I like stars nothing from full tilt yet

Statement from Full Tilt Poker Regarding Recent Check Withdrawal Issues
In light of recent events involving the freezing of certain accounts,

Full Tilt Poker would like to assure all players that their funds remain safe and secure. Processing of both deposit and withdrawal requests is proceeding as normal and is still available to all of our players.

All players who were affected by the current situation have had their funds returned to their accounts and all new withdrawal requests are processing normally. We assure all players on Full Tilt Poker that your online playing experience will not change and that you will be able to both deposit and withdraw funds as needed. Your money remains safe, secure and accessible at all times.

Full Tilt Poker remains committed to the protection of our players’ security and legal rights, and will continue to provide the best and safest online poker room available worldwide

At first while thinking about this, I thought it was shitty as fuck that no americans will be able to play on the site anymore.. then I got thinking - don't you think a large number of the tag regs/vpp hounds are from the US?

Maybe PS will become the new party poker for non-US players. I literally had my mouse hovering over cashout (and also noticed how the CDN $ is worth 4 cents more on the dollar atm... i miss my "bonus" from cashing out like the good old days) and then thought of this.

Think this could possibly be a good thing for non-US players?

Sigh of relief so far. Although I didn't think of PS/FTP going down, I mean look at PP, after the US left, they still pulled a pretty penny.

News msg from pokerstars;

"As you may have heard, we have had to suspend real money poker sercies to people based in the US due to legal developments there. These developments are confined to the US and do not have any impact on your ability to continue using our services.

Please be assured player balances are safe, There is no cause for concern. For all customers outside the US it is business as usual.

The PokerStars website has been moved to www.pokerstars.eu, and our Support email address is now support@pokerstars.eu. We apologise to our players for any inconvenience caused by this disruption.

Please be aware that we are currently experiencing a very high volume of emails, so our response times are delayed. We will answer players emails as soon as possible. Thank you for your patience and understanding in this matter."

On April 15 2011 22:14 dogmeat wrote: Show nested quote + On April 15 2011 22:11 Mortensen8 wrote: that's why I like stars nothing from full tilt yet Statement from Full Tilt Poker Regarding Recent Check Withdrawal Issues In light of recent events involving the freezing of certain accounts, Full Tilt Poker would like to assure all players that their funds remain safe and secure. Processing of both deposit and withdrawal requests is proceeding as normal and is still available to all of our players. All players who were affected by the current situation have had their funds returned to their accounts and all new withdrawal requests are processing normally. We assure all players on Full Tilt Poker that your online playing experience will not change and that you will be able to both deposit and withdraw funds as needed. Your money remains safe, secure and accessible at all times. Full Tilt Poker remains committed to the protection of our players’ security and legal rights, and will continue to provide the best and safest online poker room available worldwide

wtf, Did they just say "fuck you doj, we're going to continue with business as usual"?

On April 15 2011 22:14 RiKD wrote: everyone should read tenbaggers post and think about it before posting. i don't really see how all the bankrolls are not vanished. it's a little delusional imo to think that PS has 10bil sitting in dubai/singapore/wherever or that the US govt is gonna ship everyone their bankrolls back. is there any precedence in the latter happening?

is there any proof that ALL the funds were sized? is there any proof the BRs are vanished? no so why assuming random shit, its just as stupid as assuming they have billions in untouchable accounts.

What is sure is that Pokerstars is a big big company with a lot of profitability potential, even if it suffers a huge this time investors can take over so chill the fuck out.

Originally Posted by excession View Post
OK so I'm a UK lawyer with some knowledge of IOM law (I got involved in some quite heavy timeshare litigation there in the 90's).

PS spend a lot of money on city of London lawyers who advise them on gaming regulation compliance.

They are licensed by the IOM Gaming Commission which is pretty legit and has some pretty strong customer protection regs.

Most notable are the Online Gambling Participants' Money Regs 2010

http://www.gov.im/lib/docs/gambling/...antsmoney1.pdf

These provide that all customer money has to be kept in a segregated bank account and is deemed to be held in trust.

The concept of trust monies is very important under UK Insolvency Law as monies held in trust fall outside the estate of a bankrupt individual or insolvent corporate entity and the liquidator can't get his hands on them.

Also as they are not the site's monies judicial orders purporting to seize the site's monies won't affect them.

I suppose the US government can effectively stop payments out to the US player base by banning the banks within their jurisdiction from handling such payments, but I am really struggling to see how they can realistically stop payments out to non-US players of what is legally their money in anything other than the very short term panic that might cause banks holding such funds to freeze funds whilst they go get an order from an IOM or UK court to clarify what they should do with them.

If PS are governed by the Regs and if they have complied then they SHOULD be no issue in non-US players getting money back out of PS in fairly short order.

FT is governed by Channel Island regs which will be similar.

As for UB - LOL - I'm guessing you are screwed...

I cashed out via direct bank transfer from PS. With all those bank accounts seized can i expect my money or should i cancel transfer or something? Half my roll is at FTP so i guess thats fucked. I just hope i can get the other half from PS.

Finally a response from a stars rep - i can sleep better now

On April 15 2011 22:08 Baal wrote: People chill the fuck out, the bussiness potential for Pokerstars outside the USA is very big, its way more than the total sum of our accounts. So in the worst case where PS needs to pay billions, they would probably get investors to continue operating outisde the united stats, and that only can be done if they respect our bankrolls (and probably american ones too), so chill out, a company this big doesnt just dissapear especially when it has so much potential, if it has serios issues they are just bought

On April 15 2011 22:20 Baal wrote: Show nested quote + On April 15 2011 22:14 RiKD wrote: everyone should read tenbaggers post and think about it before posting. i don't really see how all the bankrolls are not vanished. it's a little delusional imo to think that PS has 10bil sitting in dubai/singapore/wherever or that the US govt is gonna ship everyone their bankrolls back. is there any precedence in the latter happening? is there any proof that ALL the funds were sized? is there any proof the BRs are vanished? no so why assuming random shit, its just as stupid as assuming they have billions in untouchable accounts. What is sure is that Pokerstars is a big big company with a lot of profitability potential, even if it suffers a huge this time investors can take over so chill the fuck out.